In force2020 Revised EditionCurrent version · 2020 Revised EditionSee versions on Singapore Statutes Online(opens the publisher’s site)
Bills of Exchange Act 1949 · 2020 Revised Edition · Part 2 · Bills of Exchange
40. Time for presenting bill payable after sight
Feedback & support(1)
Subject to the provisions of this Act, when a bill payable after sight is negotiated, the holder must either present it for acceptance or negotiate it within a reasonable time.
(2)
If he does not do so, the drawer and all indorsers prior to that holder are discharged.
holder
Defined · s 2
“holder” means the payee or indorsee of a bill or note who is in possession of it, or the bearer thereof;
(3)
In determining what is a reasonable time within the meaning of this section, regard shall be had to the nature of the bill, the usage of trade with respect to similar bills, and the facts of the particular case.